This company is so cheap. EPS is 3.7 cents so it is on a PE of...

This company is so cheap. EPS is 3.7 cents so it is on a PE of 6.5 !!!! NPAT $77m and Market Cap $506m. Guidance for FY22 shows that results will most likely improve up to 10% with EBIT (A) increasing from $95m in FY21 to $95-$105m for FY22.

The Order Book is $5B meaning years of revenue already covered and the tender pipeline is $7B meaning enormous opportunities are ahead.

At some point, sentiment will switch and I see a PE of 10 being reasonable particularly when the outlook, given the order book and tender pipeline is reliable and predictable. At a PE of 10 the price would be 37cents. I believe sentiment will creep up slowly or receive a sudden positive bolt up once the significant Indonesian Batu Hijau project is confirmed (which MAH have advised will be sometime in FY22).